The Revolution of Computer Vision in Retail: Transforming Physical Spaces with Autonomous Checkout
👀 Introduction
Computer vision is revolutionizing the way we interact with the physical world. It is unlocking everything that has been left behind by the digital transformations of the last few decades. With computer vision, we can take this new technology and apply it to the spaces that we occupy every single day. In particular, we can enable spaces to make even better experiences in our day-to-day experiences. One of the key places where we spend time in a physical location with other people is the retail environment. It is a space that has not been transformed for decades. However, with computer vision, we can transform the store itself into a real experience that you have when you're inside of that store.
🛍️ The Power of Autonomous Checkout
Autonomous checkout is a transformative technology that is changing the way we shop. It is the ability to walk into a store, grab items, walk out, and get your receipt automatically. You get to skip the line, skip the drudgery, and really focus on the things that are best about shopping, which is getting in, enjoying the space, browsing, getting your products, and getting on with your day. Autonomous checkout is a true transformation of the store itself. It is a real experience that you have when you're inside of that store.
👨💼 The Impact on Retail
There are many changes happening in retail that are affecting the way we run our stores. There is an incredible labor crunch, inflation, and a supply chain crunch. Physical retail is competing against all of the innovation that's been happening in the digital world. Shoppers are coming to expect more and more options and a better experience. All while all these headwinds are happening at the same time. However, with autonomous checkout, we can improve the situation. We can take technology and not just address the problems that we're seeing but actually deliver an even better experience. We can unlock the full potential of our physical spaces.
🤖 The Technology Behind Autonomous Checkout
The technology behind autonomous checkout is computer vision. It is the ability to understand everything that's happening inside of a physical space so that we can then deliver great experiences on top of it. We use overhead cameras to understand where every single person is and how they're interacting with the store in real-time. We're able to understand down to a couple of centimeters where every single person is and how they're interacting with the store in real-time. We're able to build a 3D reconstruction of where the shopper is in real-time. We have the entire path that every shopper takes, which is fully anonymized. We have a detailed understanding of where every single product is in real-time in the store. We call this the realogram. We're able to pinpoint exactly how loss is happening and understand how your existing store is working.
📈 The Impact of Autonomous Checkout
Autonomous checkout is delivering a great customer experience. We're seeing a decrease in trip length, especially wait time. We're seeing a 50% reduction in wait time in stores where our technology is implemented. We're seeing an increase in basket size. We're able to pinpoint exactly how loss is happening. We're seeing a decrease in theft. We're seeing an over 8% error rate in the traditional way of doing checkout. Autonomous checkout is transforming stores. We're not building stores; we're transforming stores. We're able to transform existing stores in just a handful of weeks. We're able to get people their receipt within a few minutes of leaving the store.
👍 Pros and Cons
Pros:
- Autonomous checkout is a transformative technology that is changing the way we shop.
- It is delivering a great customer experience.
- It is increasing basket size.
- It is decreasing wait time.
- It is pinpointing exactly how loss is happening.
- It is decreasing theft.
- It is transforming existing stores in just a handful of weeks.
Cons:
- There is an incredible labor crunch, inflation, and a supply chain crunch.
- Physical retail is competing against all of the innovation that's been happening in the digital world.
📣 Highlights
- Computer vision is revolutionizing the way we interact with the physical world.
- Autonomous checkout is the ability to walk into a store, grab items, walk out, and get your receipt automatically.
- Autonomous checkout is a true transformation of the store itself.
- Autonomous checkout is delivering a great customer experience.
- Autonomous checkout is increasing basket size.
- Autonomous checkout is decreasing wait time.
- Autonomous checkout is pinpointing exactly how loss is happening.
- Autonomous checkout is decreasing theft.
- Autonomous checkout is transforming existing stores in just a handful of weeks.
❓ FAQ
Q: What is computer vision?
A: Computer vision is the ability to understand everything that's happening inside of a physical space so that we can then deliver great experiences on top of it.
Q: What is autonomous checkout?
A: Autonomous checkout is the ability to walk into a store, grab items, walk out, and get your receipt automatically.
Q: What is the impact of autonomous checkout on retail?
A: Autonomous checkout is delivering a great customer experience. It is increasing basket size. It is decreasing wait time. It is pinpointing exactly how loss is happening. It is decreasing theft. It is transforming existing stores in just a handful of weeks.
Q: What are the pros of autonomous checkout?
A: Autonomous checkout is a transformative technology that is changing the way we shop. It is delivering a great customer experience. It is increasing basket size. It is decreasing wait time. It is pinpointing exactly how loss is happening. It is decreasing theft. It is transforming existing stores in just a handful of weeks.
Q: What are the cons of autonomous checkout?
A: There is an incredible labor crunch, inflation, and a supply chain crunch. Physical retail is competing against all of the innovation that's been happening in the digital world.
